As part of an ongoing strategy to reach company milestones, Lithia Motors this week announced yet another store acquisition, along with the opening of a new Chrysler franchise. Acquisitions will push the company toward achieving its goals in the next few years, more so than organic growth, said company president and chief executive officer Bryan […] [Read More]

Notching an all-time high in March, the certified pre-owned market has just completed its best quarter ever, according to Autodata Corp. Releasing monthly and quarterly CPO results Wednesday afternoon, Autodata said there were 206,409 certified sales in March, which was an 8.6-percent year-over-year increase. This capped a record quarter, as 551,707 certified cars were sold […] [Read More]

The latest index results from Fitch Ratings showed both prime and subprime annualized losses inched higher in February as asset performance softened somewhat during the past six months. However, analysts insisted loss rates are still at historically low levels and only marginally off the record low levels recorded in 2012 and 2013. “Fitch expects losses […] [Read More]

Earlier today, Equifax formally announced the strengthening of its recent strategic alliance with IHS Automotive, which integrated R. L. Polk & Co. into its business last year. Officials highlighted this alliance creates a unique value proposition for the automotive market and allows both organizations the opportunity to bring deeper insights that empower critical business decisions […] [Read More]

The Consumer Financial Protection Bureau said in its annual report that consumer complaint volume increased 80 percent in 2013, but vehicle loan issues still constitute only a small amount of the overall total. The CFPB indicated this week that overall complaint volume nearly doubled from 91,000 complaints received in 2012 to 163,700 complaints received in […] [Read More]

General Motors is under fire from both Canada and the U.S. as investigation into its recalls involving ignition switch defects — which includes more than two million GM vehicles worldwide — continues. Specifically, the defect affects 235,855 vehicles in Canada, and Merchant Law Group LLP recently launched a Canada-wide class action against the manufacturer concerning […] [Read More]

General Motors of Canada has given AutoCanada Inc. the green light on a new dealership investement, marking the company’s fourth dealership in Winnipeg. AutoCanada Inc. is expanding their dealership count with the acquisition of a Cadillac Buick GMC dealership, which in 2013, retailed 593 new vehicles and 520 used vehicles. The company announced it has […] [Read More]

Starting with its latest Retail Automotive Summary, CNW Research is now publishing incentive spending data each quarter. And here is what the firm found when dissecting numbers from the first quarter of 2014, as explained in the report. “For the industry, the average sticker price in the first quarter was $36,948, with an average transaction […] [Read More]

Used prices are spiking as of late due in part to the regular surge in demand during tax season. However, as supply continues to expand this year, prices are expected to continue the annual decline from post-recession highs. According to NADA Used Car Guide’s 2014 Used Vehicle Price Forecast report, average wholesale prices of used […] [Read More]

Much to the frustration of lawmakers who are members of the U.S. House Subcommittee on Oversight and Investigations, General Motors chief executive officer Mary Barra could not give direct answers to pointed questions regarding the automakers handling of ignition switch problems in millions of recalled vehicles. Barra often referenced the ongoing efforts of U.S. Attorney […] [Read More]